Write the journal entry for the bond redemption

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Company XYZ has $1,600,000 face value, 10% bonds outstanding. On May 1, when the carrying value is $1,605,000, the company redeemed the bonds at 101. The bonds pay annual interest, and the interest payment due has been made and recorded.

Problem 1: Write the journal entry for the bond redemption.

Reference no: EM132882904

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